Marcus by Goldman Sachs Review: APYs, Fees & Who It's Best For in 2026

After weathering a strategic pivot away from consumer lending, Marcus by Goldman Sachs has in 2026 solidified its position as a powerhouse in the online savings space. Backed by one of the world's most recognized financial institutions, Marcus focuses on doing two things exceptionally well: high-yield savings and certificates of deposit. For savers comfortable with a digital-first experience who want to earn a top-tier return on their cash, Marcus remains a formidable and user-friendly choice.

Is Marcus by Goldman Sachs safe?

Yes, Marcus is considered a very safe place to keep your savings. This safety stems from two main factors: its status as a member of the FDIC and the financial fortitude of its parent company, Goldman Sachs.

Recent headlines may have caused some confusion. In the mid-2020s, Goldman Sachs made a strategic decision to scale back its broader consumer ambitions, which included selling its GreenSky fintech platform and winding down its credit card partnership with Apple. It's crucial to understand that these moves were about consumer lending, not the core deposit-taking business that Marcus represents. The Marcus savings and CD platform has been a resounding success, providing Goldman Sachs with a stable, low-cost source of funding. There is no indication that the bank is closing its highly successful and profitable Marcus deposit operations.

To verify the health of the institution, one can look at the data. Goldman Sachs Bank USA, the entity that holds Marcus deposits, is a massive and well-capitalized institution. According to its latest filings with the Federal Deposit Insurance Corporation, it holds hundreds of billions in assets. Furthermore, its parent company, The Goldman Sachs Group, Inc., is a globally systemically important bank (G-SIB), meaning it is subject to higher capital requirements and stricter oversight to ensure its stability. You can review the company's detailed financial health for yourself in its public 10-K annual reports filed with the U.S. Securities and Exchange Commission. These reports show a deeply capitalized firm, dispelling any rumors about the Marcus brand's imminent closure.

In short, the strategic changes in other parts of Goldman Sachs' consumer division do not negatively impact the safety or stability of your Marcus savings account.

Is Marcus by Goldman Sachs FDIC insured?

Yes, unequivocally. All deposit accounts at Marcus are held by Goldman Sachs Bank USA, which is a member of the Federal Deposit Insurance Corporation (FDIC). This means your money is protected by the full faith and credit of the U.S. government.

FDIC insurance covers your deposits up to $250,000 per depositor, per insured bank, for each account ownership category. This is a standard and crucial protection for any legitimate U.S. bank.

Here's a practical example of how the coverage works: * An individual account with $250,000 is fully insured. * A joint account with two owners and $500,000 is fully insured ($250,000 for each owner). * If you have an individual account with $300,000, the first $250,000 is insured, but the remaining $50,000 would be uninsured.

You can verify Goldman Sachs Bank USA's FDIC status and history directly on the government's website. The bank's FDIC Certificate # is 33124. For a complete record and to confirm its current status, you can use the FDIC's BankFind tool.

Is Marcus a great HYSA?

Yes, the Marcus by Goldman Sachs Online Savings Account is consistently one of the best high-yield savings accounts (HYSAs) available. It excels by offering a highly competitive annual percentage yield (APY) while stripping away the fees and minimums that can eat into your returns at traditional banks.

As of early 2026, the Marcus Online Savings Account offers an APY of 3.90%. To put that into perspective, the FDIC's National Rates and Rate Caps data from January 2026 shows the national average savings account rate is just 0.45% APY. This means Marcus currently pays over eight times the national average, a difference that can add up to hundreds or even thousands of dollars in extra earnings per year, depending on your balance.

The key features that make the Marcus HYSA stand out include: No monthly maintenance fees:* Your balance will never be reduced by service charges. No minimum deposit to open:* You can start with any amount. No minimum balance requirement:* You continue to earn the high APY regardless of whether you have $10 or $100,000 in the account. 24/7 customer service:* Access to human support by phone is a valuable feature for an online bank.

The process of moving money is straightforward. You can link up to four external bank accounts for free ACH transfers. Incoming transfers are typically available within 1-2 business days, while transfers out of Marcus to a linked account generally take 1-3 business days. There are no fees for these transfers.

Here's how the Marcus HYSA compares to other leading online banks in 2026:

As the table shows, Marcus's APY is highly competitive, though some rivals may offer a slightly higher rate, sometimes with conditions like direct deposit. The primary functional difference is the lack of mobile check deposit at Marcus, which reinforces its role as a destination for electronic cash transfers rather than day-to-day banking.

Marcus CD rates in 2026

Marcus consistently offers some of the most competitive CD rates on the market, making it an excellent choice for savers who want to lock in a guaranteed return for a specific period. These rates often significantly outperform both traditional brick-and-mortar banks and the national averages.

A key benefit of opening a CD with Marcus is its 10-Day CD Rate Guarantee. If Marcus raises the APY for your selected CD term within 10 days of you opening and funding your account, they will automatically give you that higher rate. This removes the anxiety of missing out on a rate hike shortly after committing your funds.

CDs can be a smart move when you believe interest rates might fall. By locking in a high APY now, you guarantee that return for the entire term, even if HYSA rates decline.

Here's a comparison of sample Marcus CD rates for early 2026 against the national averages reported by the FDIC.

The minimum deposit to open any Marcus CD is $500. It's important to remember that, like all standard CDs, there is a penalty for withdrawing your principal before the term is up. The early withdrawal penalty at Marcus is 90 days of simple interest for terms of one year or less, and 270 days of simple interest for terms over one year up to five years.

Marcus No-Penalty CD

For savers who crave the rate security of a CD but are hesitant to lock up their cash, the Marcus No-Penalty CD is a standout product. It offers a unique blend of flexibility and guaranteed returns.

Marcus currently offers a 7-month No-Penalty CD. Here's how it works: 1. You open the CD with a minimum of $500 and lock in a fixed APY (e.g., 3.90%). 2. Your funds must remain in the account for the first 7 days after opening. 3. After the 7-day waiting period, you can withdraw your entire balance—principal and interest earned—at any time without facing an early withdrawal penalty.

This product is ideal for people who: * Are saving for a near-term goal with an uncertain timeline, like a down payment on a house. * Want to earn a fixed rate that is potentially higher than a HYSA but don't want to risk penalties. * Are concerned that HYSA rates might fall but still need access to their funds.

The trade-off is that the No-Penalty CD rate is typically slightly lower than the rate on a standard CD of a similar term. However, for many savers, the peace of mind and flexibility are well worth the small difference in yield.

What Marcus is missing

Marcus is designed for a specific purpose—savings—and it deliberately omits features common to full-service banks. Being aware of these limitations is key to deciding if it's right for you.

• No Checking Account: You cannot use Marcus for daily spending. There is no checking account, which means no debit card and no ability to write checks.
• No Debit or ATM Card: You cannot withdraw your cash from an ATM. Accessing your money requires an electronic transfer to a linked external bank account, which takes 1-3 business days.
• No Zelle: Marcus is not integrated with the Zelle network for instant person-to-person payments.
• No Physical Branches: As an online-only bank, you cannot visit a teller for in-person service. All support is handled via phone or the website.
• No Mobile Check Deposit: You cannot deposit a paper check using the mobile app. This further reinforces its role as a destination for cash, not a hub for daily transactions.

Who is Marcus by Goldman Sachs best for?

Given its product line and limitations, Marcus is the ideal financial institution for a very specific type of customer.

• Dedicated Savers: Anyone looking for a top-tier APY on their emergency fund, down payment savings, or general nest egg without having to constantly chase rates.
• CD Ladder Builders: With a wide range of competitive CD terms and the unique 10-Day Rate Guarantee, Marcus is an excellent choice for building a CD ladder strategy.
• Hands-Off Investors: Those who want to set up an account, link it to their primary checking, and let their money grow with minimal interaction.
• Risk-Averse Individuals: Customers who value the security of a globally significant, FDIC-insured bank over the bells and whistles of a fintech app.

Marcus is not the best choice for someone looking for an all-in-one bank, a tech-forward checking experience, or person-to-person payment tools like Zelle.

The bottom line

Marcus by Goldman Sachs is an elite choice for one thing: growing your savings. It pairs a top-shelf APY with the security of a global financial giant, no fees, and a market-leading No-Penalty CD. Just remember to pair it with a separate checking account, as Marcus has no interest in becoming your primary bank.

Rates and product terms shown reflect publicly available information at the time of our 2026 review and can change at any time. Always confirm current APYs and fees directly with the bank before opening an account.